Asian stock markets were mixed on Wednesday after US Federal Reserve is expected to hike its benchmark overnight lending rate for a fourth and final time in 2018, and its outlook for 2019 will also be scrutinized by investors.
The yield on benchmark Japanese bonds slipped to within striking distance of zero percent.
West Texas Intermediate oil futures plunged 7% on Tuesday, while Brent oil plummeted 5%. The fall can be attributed to unexpected growth in Russia's oil output during November, a recent US government’s forecast calling for further gains in domestic shale oil output, and fear for an economic slowdown. However, oil prices rebounded on Wednesday.
Currently, WTI and Brent oil prices were trading 0.3% and 0.6% up. The gain is probably on the back of short covering at a lower level.
The yield on benchmark Japanese bonds slipped to within striking distance of zero percent.
West Texas Intermediate oil futures plunged 7% on Tuesday, while Brent oil plummeted 5%. The fall can be attributed to unexpected growth in Russia's oil output during November, a recent US government’s forecast calling for further gains in domestic shale oil output, and fear for an economic slowdown. However, oil prices rebounded on Wednesday.
Currently, WTI and Brent oil prices were trading 0.3% and 0.6% up. The gain is probably on the back of short covering at a lower level.
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